Both sides welcome each other's financial institutions to enter one another's securities, insurance, wealth management including custody services and futures markets in line with the regulatory framework currently or prospectively in force, according to a joint declaration released after the First China-Italy Finance Dialogue.

The first Panda Bond is also welcome to be issued by a qualified Italian financial institution.

Attended by Chinese finance minister Liu Kun and his Italian counterpart Giovanni Tria, the dialogue was held in Milan on Wednesday.